The Great Switch: Is Now the Right Time to Go Electric?

Introduction

For years, the transition to an Electric Vehicle (EV) felt like a promise for the future – a world of quieter, cleaner motoring that was just out of reach for many Irish drivers.

There were major concerns about the range of EV cars, the cost and the charging infrastructure.

But the landscape has shifted dramatically in the last couple of years. With more EV models on the road, improved technology and a more favourable financial equation, the question for many people is no longer if, but when to switch to an EV.

This is borne out by the increasing number of Irish drivers who have made the switch. According to the Society of the Irish Motor Industry (SIMI), 16,779 new EVs have been registered in the first 4 months of 2026 which is +48.5% versus the same period in 2025. Indeed, April saw a 110% increase in registrations with 2,779 new electric cars registered versus 1,335 in April 2025.

This article examines the above factors in detail to help you determine if, right now, the stars have aligned enough for you to make the leap.

1. The Vehicle Revolution: Choice is No Longer an Issue: Gone are the days when choosing an EV meant selecting from a handful of small hatchbacks.

• Explosion of Models: There’s so much choice in the market now. Much of this is driven by the arrival of the Chinese manufacturers, such as BYD and XPeng, but nearly every major car maker is now fully invested in electrification. Whether you need a compact city car, a family SUV, a premium saloon or even a 7 seater, there’s an EV to suit every need and lifestyle.
• Improved Range: ‘Range anxiety’ is becoming a thing of the past. Where EVs in the early 2020s struggled to reach 200km on a charge, most new models now offer a range of 350km to 500km. This comfortably covers the average Irish weekly commute (approx. 350km) on a single charge and makes cross-country trips from Dublin to Cork feasible with just one quick stop.

2.The Financial Equation: Showroom Price vs Cost of Ownership. The upfront price of an EV can still be higher than its petrol or diesel equivalent, but the overall financial picture needs to be considered.

•  Purchase Incentives: The Sustainable Energy Authority of Ireland (SEAI) offers a grant for private car buyers of up to €3,500* off the list price of new eligible EVs. In addition to this, EVs are granted VRT relief of up to €5,000 for the lowest-emitting vehicles. Installing a home charger is also supported by SEAI grants of up to €300.
• Tax Incentives: EVs benefit from a flat, minimum, annual motor tax rate of €120. By contrast, petrol and diesel cars with the biggest engines can incur annual motor tax of up to €2,400.
• Running Costs: This is where EVs truly shine. Electricity, even at current rates, is far cheaper per kilometre than petrol or diesel. According to the SEAI’s most recent quarterly report on fuel costs per 100 kilometres for various engine types**, it costs €9.32 for a petrol vehicle; €8.75 for a diesel-powered car and just €3.12 for a fully electric car over the same distance.
• So, assuming that the average driver does 15,000km annually, this means it would cost €1,398 to fuel a petrol car, €1,313 to fuel a diesel car and just €468 for an all-electric car.
• Maintenance: With far fewer moving parts to service – no oil changes, no timing belts, ignition systems or exhaust systems – EVs are cheaper to maintain. This long-term saving is a crucial part of the EV value proposition.

3. Charging: Another thing that once put people off buying an EV was charging. But this has now changed.

• Home Charging: For most EV owners, 90% of the charging happens at home via a home charger (or wallbox) which is installed at the front of the house. You plug the car in overnight and you wake up in the morning with a ‘full tank’. Not only does this eliminate the issue of time spent at public charging points - the fastest of which requires 18-20 minutes to go from 10% to 80% battery - but it also reduces the costs as overnight electricity tariffs are much lower.
• Public Charging: Public charging, such as DC or rapid and ultra-rapid charging is the quickest way to top up an EV. The number of public charge points is increasing monthly, with over 2,500 installations to date,  supported by easy-to-use apps like ESB ecars, EZO (formerly EasyGo) and Ionity (Circle K partnership). This includes high-power charging (HPC) hubs along motorways that can add 100km of range in under 10 minutes. However, public charging is more expensive per kWh than charging an EV at home.

4. The Global Picture: Energy Costs and Geopolitics: The elephant in the room is the cost of energy; heightened by the current global insecurity in Ukraine and the Strait of Hormuz.

• Electricity Prices: Yes, electricity costs have risen significantly but so have petrol and diesel prices. The relative cost benefit of electricity over fossil fuels still very much exists.
• Energy Independence: This situation highlights a longer-term strategic advantage. Ireland generates its own renewable energy (wind, in particular). Charging an EV increasingly taps into this domestic, greener grid. In contrast, fossil fuels are entirely imported, leaving Irish consumers exposed to global price shocks and volatility. Switching to an EV is a step towards national energy resilience.

The Considerations: Now might not be the right time for you yet if:

• You Lack Home Charging: If you live in an apartment or rely on street parking, relying solely on public chargers can be inconvenient and more expensive, though still feasible for some.
• You Frequently Drive Very Long Distances: While possible, regular 600km+ trips will require more planning and time than refuelling a petrol or diesel car.
• The Upfront Cost: Despite grants, the initial investment remains high. The growing second-hand EV market is becoming a fantastic option for those wanting to enter the market at a lower cost.

Conclusion: The Verdict for Irish Drivers. So, is it now the right time to switch? For a large percentage of new car buyers in Ireland, the answer is a resounding yes.

The convergence of greater choice, realistic ranges, a rapidly improving charging network and a compelling financial case, makes EV ownership a practical and intelligent choice today.

The future of driving in Ireland is electric. And for many, that future has already arrived.

Are you looking for a Car Loan to purchase an EV? First Tech’s Green Loan comes with a competitive rate of just 5.9% APR*, easy repayment options and loan protection insurance at no extra cost.

Call us today on 01 642 7900.

*Lending Criteria Terms & Conditions Apply. 

*T&Cs apply. See SEAI website for details.

**Source: SEAI Quarter 2 2026:To read more, click here

The EV calculation is based on a consumer charging their car 90% of the time at home, on a cheaper overnight electricity rate, and 10% of the time at public charging, at a fast and high-powered rate.